Bitcoin news

Bitcoin fell to $59,023 on June 24, its lowest since October 2024, extending an eight-month decline. The drop was driven by tech stock pullbacks and persistent spot ETF outflows, with BTC now 52% below its October 2025 all-time high of $126,080. Spot Bitcoin ETFs saw $182 million in outflows this week, on pace for a seventh consecutive weekly net outflow. Total assets under management have fallen to $77.5 billion from $113 billion at end-2025, creating mechanical selling pressure as issuers liquidate Bitcoin to meet redemptions. Capital is rotating from crypto to AI stocks and IPOs, while the CLARITY Act, a key US crypto regulatory bill, faces a tight deadline before Congress’ summer recess. Analysts note that broader institutional adoption has reduced volatility compared to previous bear markets, but ETF flows and macro catalysts will determine if a bottom holds.

Cantor Equity Partners I has postponed its shareholder vote on a merger with Bitcoin Standard Treasury Company (BSTR) to July 2, delaying Adam Back's bid to list the firm on Nasdaq with 30,021 Bitcoin. The SPAC, sponsored by a Cantor Fitzgerald affiliate, cited previously disclosed private placements for the delay. The postponement comes as digital asset treasury companies face falling valuations, with many trading near or below their Bitcoin holdings. Even Strategy (MSTR), the largest corporate Bitcoin holder with 847,363 BTC, saw its shares fall below $100 for the first time since March 2024. If approved, BSTR would become the fifth-largest public Bitcoin treasury, about 13,000 coins shy of second place. Back aims to raise up to $1.5 billion to buy more Bitcoin, potentially lifting BSTR to 53,500 BTC and passing Metaplanet and Twenty One Capital for second place. The outcome depends on the July 2 vote and redemption levels.

Crypto markets experienced a sharp selloff on June 24, liquidating over $600 million in leveraged long positions within hours, with Bitcoin and Ethereum hit hardest. Bitcoin dropped 4.07% and Ethereum 4.91%, while major altcoins like XRP, Solana, BNB, and Dogecoin also fell sharply, indicating broad risk-off pressure. The liquidation event was concentrated on centralized exchanges, with Binance leading at $350.58 million. Decentralized exchange Hyperliquid saw $147.24 million in liquidations. Bitcoin's selloff was driven by a break below $63,000, with overhead liquidation clusters between $61,500 and $63,000 now acting as resistance. A reclaim of $63,000 could reverse the bearish setup, while losing $59,700 support may trigger further declines.

Bitcoin fell to $59,060 on Wednesday as the US dollar hit a 13-month high, pressuring non-yielding assets. Despite cooling oil prices, traders fear the recovery to $60,000 may be short-lived. The US dollar strength index rose to its highest in over a year, typically negatively correlated with Bitcoin. Gold also declined, and investors favored fixed-income amid persistent inflation and strong economic data. Spot Bitcoin ETF outflows and a slowdown in Strategy's Bitcoin purchases (its lowest weekly intake in 18 months) added to bearish sentiment. Analysts warn further downside from $59,000 is possible.

Bitcoin price has collapsed below $60,000 for the first time since October 2024, trading at $59,566 as of press time. The 10% daily drop has erased months of gains and pushed the price roughly 53% below its all-time high of $126,277. The decline was driven by a convergence of negative factors: U.S. spot Bitcoin ETFs posted net outflows for four consecutive days, totaling $113.8 million on June 23 alone. The Federal Reserve's hawkish stance, fueled by rising oil prices and inflation fears, further pressured risk assets. Additionally, Strategy sold 32 BTC, breaking its long-held 'never sell' posture. Despite the selloff, there are glimmers of hope. Standard Chartered analysts suggest $59,000 is the cycle bottom, citing renewed ETF inflows on June 23 ($39.2 million net positive) and continued corporate buying (Strategy and Strive Asset Management added 520 BTC and 759 BTC, respectively). On-chain data shows roughly half of Bitcoin's supply is underwater, which historically has marked a floor rather than the start of a deeper decline.

Bitcoin fell below $60,000 on June 24, trading near $59,340 after a 4% daily drop and a 9% weekly decline. The break exposed a market timing problem as sellable coins moved to exchanges while ETF demand weakened and leveraged traders cut risk. CryptoQuant data showed roughly 7,600 BTC flowing into Binance, representing about $479 million in potential sell pressure. Meanwhile, spot Bitcoin ETFs saw net outflows of 2,548 BTC on June 24 and 6,728 BTC over seven days, signaling weaker institutional demand. Leverage amplified the move. Lookonchain reported a whale closing 800 BTC long below $61,000, and CoinGlass showed repeated long liquidation alerts near $59,650. The breakdown suggests the market's ability to absorb selling weakened precisely when new supply and forced risk reduction became visible. For a rebound to stick, Binance inflows need to slow, ETF outflows must stabilize, and long liquidation pressure should cool. If these signals fail, the $60,000 break would be confirmed as failed support rather than redistribution.

Strategy Inc. (MSTR) shares fell 10% to a two-year low of $92 as bitcoin dropped below $60,000, triggering a $1.1 billion liquidation cascade. CryptoQuant warned the company to halt bitcoin purchases, citing overextension. Strategy's unrealized losses are estimated at $10.6 billion, with cash reserves down 38% and dividend coverage compressed to 14 months. The company's capital model faces strain as MSTR trades at a discount to its bitcoin NAV (0.80x), constraining equity and preferred issuance. Preferred shares like STRC trade below par, hindering fundraising. With 847,363 bitcoin acquired at an average of $75,680, the gap to current prices exceeds $16,000 per coin. Critics suggest selling bitcoin to meet obligations could pressure the asset further.

Bitcoin’s price correction deepened as US demand weakened, with BTC trading at $59,800, down 16% in June. US spot Bitcoin ETFs recorded net withdrawals of $6.35 billion over the past 30 days, the largest outflow in Galaxy Research data. The Coinbase Premium Index remained negative, signaling weak US buyer interest. The $57,300 level has emerged as a key liquidation point, with $1.1 billion in options positions concentrated at $60,000 and $1.4 billion at $50,000-$55,000. Derivatives data from Deribit shows substantial exposure below current prices, increasing the risk of forced liquidations. Market indicators suggest buyers have not regained control. The Net Taker Volume Oscillator fell to zero after a negative reading, indicating a balance rather than renewed demand. Long liquidations accounted for 18.4% of forced closures, and risk-appetite measures for Bitcoin deteriorated, approaching weak-risk territory.

Bitcoin price fell toward $61,000 on June 24, extending a decline from its October 2025 record high. The token briefly dropped below $60,000 earlier in June, with partial recovery stalling. Deutsche Bank cited institutional pressures, including Federal Reserve rate hike expectations and $6 billion in net outflows from spot Bitcoin ETFs over six weeks. Corporate Bitcoin holders suffered heavy losses. Strategy fell over 20% in a week after selling 32 BTC—its first sale since 2022—to cover preferred stock distributions. Strive, holding 19,864 BTC at an average price above current levels, saw its shares drop. Coinbase and Circle also declined amid a broader tech stock sell-off linked to AI investment competition.

Rolling one-year notional flows across bitcoin investment vehicles turned negative for the first time since late 2023, according to K33 Research. As of June 18, flows stood at -1,176 BTC, marking the first negative reading since Nov. 4, 2023. The previous bear market saw flows turn negative in October 2022, weeks before bitcoin found a bottom. Global bitcoin ETP holdings have fallen 8% from their peak to 1,466,029 BTC, the largest relative drawdown on record. Analyst Vetle Lunde noted that ETP outflows have never been larger on both a relative and absolute basis since mid-May, indicating broad capitulation among investors. Outflows have slowed in recent days, helping bitcoin stabilize. However, demand remains soft, with average daily spot volume falling to about $1.99 billion. Lunde described a fragile balance with few committed sellers or buyers, setting up potential for sharp volatility once conviction returns. K33 also highlighted mounting strain in Strategy's preferred-share complex, with STRC falling below $90 for the first time. The company faces roughly $1.7 billion in annual dividend obligations, though Lunde estimated Strategy has enough reserves to cover about 10 months of payments and is far from being forced to sell BTC.